Establishing a Company in Hong Kong

Nowadays, unless you are planning to stay in Hong Kong, you can open a limited company, you can go to Hong Kong and open a company by yourself. However, the government requires your company to have an office and a secretary in Hong Kong.

The good news is that you don’t need to rent an office and hire a secretary. There are several agencies that will be happy to provide this service to you for a very less amount can be 5-6000 HKD per year. They can afford to keep the cost low because the same person can act as a secretary for a lot of companies. This is the same for an office. The office of a given agency may be the registered office address of many different companies.

Documents needed for Hong Kong company establishment and the procedures to open it:

First of all, you will need to pay the agency's fee and choose a name for your brand new company your agency will then check whether the name is available in Hong Kong or is already taken.

Then you will have to send a copy of your passport, a copy of an official document as a proof of your residence and a questionnaire within standard question such as your address, your passport number and the name of the director and shareholder (if you plan to open the company alone, you will be both director and unique shareholder) to Hong Kong.

For a simple company structure, which unless you have special requirements shall be enough your agency will set up your company via E registration, which takes less than 2 hours, to get the brand new company's certificate of incorporation and business registration certificate upon certified the relevant parties passport online for instance via Skype.

Fee Involved In Registering Business in Hong Kong

Business registration applies to every business in Hong Kong other than a corporation (for example sole proprietorship and partnership) must make their applications within one month of business commencement.

Hong Kong business registration fee involves all the cost of registering and maintaining a company:

Assuming that we decide to hire an agency and that we need a secretary and an office address during the first year we will need to pay for:

1- The incorporation documents and company kit (seal stamp and so on) about 2070 HKD

2- The company registration (government fee)1730 HKD

3- The business registration certificate (government fee) 2250 HKD

4- The provision for the company secretary 3500 HKD

5- The provision for the Registered office address: 2000 HKD

6- The assistance for opening your business bank account (you can actually open a bank account              on your own but it does take time and effort: 1000 HKD

Starting from the second year we need to pay for:

1- Business registration certificate ( government fee) 2250 HKD

2- Annual return ( government fee): 105 HKD

3- The provision for the company secretary 3500 HKD

4- The provision for the Registered office address: 2000 HKD

Improper registration for foreign enterprise in Hong Kong can lead to prosecution and fine.

Company Secretarial Services in Hong Kong

Why is company secretary so important?

To register a limited liability company in Hong Kong, a special administrative region of China, you are required to have a physical address, articles of association, company name, copies of directors and shareholders passport, a business structure, and a company secretary.

Notably, the company secretary remains the most notable because he/she is responsible for ensuring that the company is compliant with statutory and legal requirements as well as implementing board decisions.

Company secretarial services in Hong Kong is important because:

As an offshore company, the Hong Kong administration wants to make it easy to administrate and keep all the companies up to date on new developments. Many are the times when new legislation are passed to help businesses grow faster, anchor startups growth projectile and support innovations.

These decisions and many others by different arms of the Hong Kong administration are communicated through the company secretary.

Duties of a Hong Kong company secretary:

1-      He is the main link between company secretary services and registry office

2-       He prepares records, stores and reproduces all statutory records

3-      Arranges all boards and shareholders meetings

4-      Attends, takes and keeps minutes of boards and shareholders meetings

5-      Implements the board's resolutions arrived at during meetings

6-      Applies for the company business registration certificate

7-  Prepares and submits any legal requirements asked by any Hong Kong administrative arm of government

8-      Advices the company on any issue on legislation, bankruptcy and liquidation if the need arises

For more information you may visit our website:

www.offshoretaxconsultancy.com/company-secretarial-services-hong-kong

Register your company in Hong Kong

Company registration Hong Kong is a great idea for those companies who really want to do business in an easy and reliable way. Hong Kong has a stable and free economy, including much more benefits like business-friendly environment, world-class infrastructure with low taxation policy. Hong Kong government always welcomes foreign investors and entrepreneur to establish their business here. They give world-best opportunities to get a firms foothold in the Asia Pacific. It is a free market economy with access across the world.

It is reputed as one of the stable economies and encourages all the customers to set up their business here and make more money. It ranks for least corrupted country all over the world. In Company registration Hong Kong, you have to hire an agency that helps you to incorporate and register a company and even you do not need to travel here. Agency will complete the whole process through emails and phone. 

Start a business in Hong Kong is a viable method for expanding both the City's and your own business opportunities. Most of the company in this locale is a private limited company. 

Features of Private Limited Companies:-

1)      The principles of tax policy received by this city are alluded to as a regional source.

2)      There is only profit whose source can be followed back to Hong Kong are taxable.

3)      All the business activities of company registration Hong Kong from seaward sources are 100 percent tax-exempt.  

4)      If the company generate profits outside Hong Kong then they are liable to pay 0% tax on that profit. 

5)      If the company generate profit inside Hong Kong then they are liable to pay 16.5% tax on that profit.

6)      There are no other sales tax policies that include value added tax, capital gain, no tax on dividend, any payroll tax, etc.  

7)      According to the statutory necessities, the directors and shareholders don't need to be residents of Hong Kong.

8)       In company registration Hong Kong, they can encourage foreign business investors to enter into the world best market that is “Chinese market”. It can likewise be utilized as an intermediary for exchanging purposes with China.

Advantages of Hong Kong Company Incorporation

Hong Kong is considered an international financial hub around the world.  Hong Kong is a highly developed international city with the major free trade port, which is the reason that numerous business investors came to here to register a company here. That is to develop the businesses and also improve the company reputation.

The advantages of Hong Kong incorporation:

•  You can own a well-established and trusted legal system here
•  Business scope is not restricted
•  Enjoy a simple and effective tax regime 
•  You can choose the company name freely

One of the significant benefits of Hong Kong incorporation is that the company won't be seen as a tax avoidance vehicle, as Hong Kong is a major trading entity in its own specific right. There is no exchange control and capital gains tax. The essential law of Hong Kong ensures low taxes as well as free trade for a Hong Kong company.

By law, Hong Kong companies must have at least one director and one shareholder. The sole director can act as a shareholder. There is no statutory requirement that the directors and shareholder be Hong Kong residents. They can be individual persons or organization Company incorporation requires a registered Hong Kong office address and a Hong Kong resident individual who act as a Company secretary. We can provide a registered office address and secretary to comply with these statutory requirements for Hong Kong incorporation. These are the basic requirements which you need to fulfill while company incorporation. 

If you want to form a company in Hong Kong then contact us, we introduced as a Stephen is a Hong Kong based company and have many years of experience in offering world-class and professional services on Hong Kong Incorporation to corporate clients around the world.

How to Register a Company in Hong Kong?

When you commence a business in Hong Kong than a very first question which comes in a mind that “ Why Hong Kong Nation for establishing a business” and the answer is very simple because of its best and effective features which they are offering to the foreign investors, You can save more money and more control. All the countries in Asia, only Hong Kong are the ideal locations for setting up their business.You have full control over all the country and have 100 % foreign ownership. The governments support foreign business investors and an entrepreneur for company registration Hong Kong.  This nation is considered as Financial and business hubs which Have a stable & free economy, business-friendly environment, effective & low tax system, and world-class infrastructure that encourage investors to formulate their business and business in the well-developed country.  If you are choosing Hong Kong for Company Registration then you are smart enough to help your company into a successful path and grow or expand your business. It helps you to generate a lot of money here for yourself.

Simple Company Registration Hong Kong Procedure:-

·         The first and foremost thing which you need to decide that either you start a new company or buy a shelf company. If you want to start a company in few times then we at Stephen agency, arrange a ready-made company which starts in 24 hours because the procedure time is faster for the ready-made company. If you want to start a company in your own desired name then you can choose a new company formation option.

·         Once you have decided that which form of company you need to follow then register your company with Business Registrar office or Inland Revenue Department. It is essential to register your business after one month of receiving a Certificate of Incorporation. The Company Registration Hong Kong process requires some details which you must have to provide which include your name, passport details, nationality, and residential address. If you have a shareholder, then you have to mention the percentage of shares. It is needed to provide the information of every director of the company. 

·         The director and shareholder can be of any nationality, minimum one director is required and maximum unlimited. There is only one shareholder is required for company Registration Hong Kong. Only one Company Registration is required which must be of Hong Kong Nationality.  Director and shareholder can be the same but cannot be the same in the case of Company Secretary. 

For this process, you need to hire an agency that makes your process easier. There are several agencies in Hong Kong which help you to establish a company here. But it is important to choose the best that provide you effective and efficient quality services which are fruitful for Company Registration Hong Kong. We at Stephen offer these above-mentioned services at reasonable prices.

Know More about Hong Kong Company Incorporation

As we know Hong Kong is considered as a global business hub, which attracts entrepreneur to set up their business overseas. Hong Kong companies have several benefits which help investors for company incorporation here because of its tremendous features.  Hong Kong has a stable economy which is the reason for expanding their business in Hong Kong. There also provide a tax regime facility which is the most important for Hong Kong company incorporation process because every entrepreneur saves to pay taxes. Due to Hong Kong effective tax systems, many investors are expanding and running their business here. This allows all business investors to promote their business internationally.  There is no foreign exchange control in Hong Kong thus allows for easy exchange and transfer of foreign currency. Hong Kong is a desirable position for starting or expanding their business internationally.

There are the following steps for the Hong Kong company incorporation procedure.

ü      First of all, you need a company name which must be unique and should meet all requirements of the company.  The name must be different because two company names cannot be the same.  The agency will provide best possible name and you have to choose the best among all alternatives.

ü      The next step is to hire one director, one shareholder, and one resident Company Secretary. The shareholder and director can act as same but cannot act as Company Secretary.

ü     After appointing the members of the organization then you have to submit the related documents which include Article of Association (AOA), Memorandum of Association (MOA), And passport copy of both director and shareholder.

ü  When the document submission procedure is completed, after that you have to receive the Certificate of Incorporation which is submitted to the Inland Revenue Authority. 

These are the four easy steps which the agency will provide you to incorporate business overseas. Stephen M.S. Lai & Co. CPA Limited provides simple, reliable and affordable Hong Kong company incorporation services. You can hire our service which helps business investors to start and expand their business in an easier and fastest manner.

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